Shopify Inc. (NYSE:SHOP - Get Free Report) TSE: SHOP's share price rose 0.8% during mid-day trading on Friday . The stock traded as high as $102.72 and last traded at $102.67. Approximately 2,309,825 shares traded hands during mid-day trading, a decline of 73% from the average daily volume of 8,573,479 shares. The stock had previously closed at $101.85.
Analysts Set New Price Targets
Several equities research analysts recently commented on SHOP shares. Moffett Nathanson boosted their target price on Shopify from $86.00 to $99.00 and gave the stock a "neutral" rating in a report on Tuesday, November 26th. Cantor Fitzgerald restated a "neutral" rating and set a $120.00 target price on shares of Shopify in a report on Wednesday, February 12th. Evercore ISI increased their price objective on Shopify from $125.00 to $140.00 and gave the company an "outperform" rating in a research report on Wednesday, February 12th. The Goldman Sachs Group upped their target price on Shopify from $135.00 to $150.00 and gave the company a "buy" rating in a report on Wednesday, February 12th. Finally, Wells Fargo & Company lifted their price target on Shopify from $120.00 to $135.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 12th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $126.31.
Check Out Our Latest Stock Analysis on Shopify
Shopify Stock Up 5.0 %
The firm has a fifty day moving average of $110.04 and a 200-day moving average of $99.73. The firm has a market cap of $141.67 billion, a P/E ratio of 70.59, a PEG ratio of 4.82 and a beta of 2.60.
Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last posted its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share for the quarter, missing analysts' consensus estimates of $0.44 by ($0.10). Shopify had a return on equity of 12.00% and a net margin of 22.74%. Sell-side analysts anticipate that Shopify Inc. will post 1.12 EPS for the current year.
Institutional Trading of Shopify
A number of institutional investors and hedge funds have recently modified their holdings of SHOP. Charles Schwab Investment Management Inc. boosted its position in shares of Shopify by 6.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,416,436 shares of the software maker's stock worth $193,802,000 after purchasing an additional 136,530 shares in the last quarter. Raymond James Trust N.A. lifted its holdings in Shopify by 121.3% during the third quarter. Raymond James Trust N.A. now owns 24,813 shares of the software maker's stock worth $1,989,000 after acquiring an additional 13,600 shares in the last quarter. Great Valley Advisor Group Inc. grew its stake in Shopify by 16.2% in the third quarter. Great Valley Advisor Group Inc. now owns 13,966 shares of the software maker's stock valued at $1,119,000 after acquiring an additional 1,952 shares during the period. Cerity Partners LLC increased its holdings in shares of Shopify by 35.8% in the third quarter. Cerity Partners LLC now owns 85,993 shares of the software maker's stock worth $6,891,000 after acquiring an additional 22,667 shares in the last quarter. Finally, Baltimore Washington Financial Advisors Inc. raised its position in shares of Shopify by 2.2% during the third quarter. Baltimore Washington Financial Advisors Inc. now owns 82,641 shares of the software maker's stock worth $6,623,000 after purchasing an additional 1,800 shares during the period. 69.27% of the stock is owned by institutional investors.
Shopify Company Profile
(
Get Free Report)
Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, Australia, China, and Latin America. The company's platform enables merchants to displays, manages, markets, and sells its products through various sales channels, including web and mobile storefronts, physical retail locations, pop-up shops, social media storefronts, native mobile apps, buy buttons, and marketplaces; and enables to manage products and inventory, process orders and payments, fulfill and ship orders, new buyers and build customer relationships, source products, leverage analytics and reporting, manage cash, payments and transactions, and access financing.
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